(Amended by Ord. No. 137,130, Oper. 10/1/68.)
An excise tax is hereby imposed on the storage, use or other consumption in this City of tangible personal property purchased from any retailer on or after October 1, 1968, to and including March 31,1969, for storage, use or other consumption in the City of Los Angeles, at the rate of one percent of the sales price of the property.
Notwithstanding the foregoing provisions of this section, no excise tax is imposed by this section where the sales price of tangible personal property purchased for storage, use or other consumption in the City of Los Angeles was fixed pursuant to a contract of sale actually executed in good faith prior to October 1,1968.